NIL orgs like the Hokie Way should not be non profit...
...or tax deductible. These are organizations designed to solicit athletes for their name, image, and likeness for various businesses, i.e. PAY FOR PLAY. Participation in the Hokie Way is certainly optional but should never be tax deductible. The IRS will wake up on this one and folks who donate don't forget the new standard deduction, much higher than before and reduces the chance your donation will be deductible.
6 Replies
3y
(In response to this post by HokieJay)
C
CBHokie
3y
breast cancer awareness event, Hokies for Hunger event, etc., than just go to an athlete.
Don't know why people are having trouble with this. Consider the athlete's appearance as a charitable organization's contracted employee for the event. Charities hire businesses, people, materials for events all the time. Think a run/walk/race doesn't use a company to help run the event? Think more people won't turn out for a meet and greet with Justin Mutts before, during, or after an event? Think commercial advertisement for events don't cost money? It's all part of the cost of raising money/awareness but contributions for those charities have ALWAYS been tax deductible.
(In response to this post by fordham)